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Dec 1, 2012
12/12
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polls of what it will mean for small business owners. that's what concerns me. people like us have been able to cope and still have been able to save and to send our children to college. that is close to going away and this is one of my great concerns. guest: one of the untold parts of the story and sometimes we overlook what is happening in the states. they're raising state and local taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest: some of these are refundable which means you get money back even if your tax bill is zero. whatever the refundable amount is, you get to take home. host: we will go to ray in atlanta, georgia.
polls of what it will mean for small business owners. that's what concerns me. people like us have been able to cope and still have been able to save and to send our children to college. that is close to going away and this is one of my great concerns. guest: one of the untold parts of the story and sometimes we overlook what is happening in the states. they're raising state and local taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you...
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Dec 7, 2012
12/12
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. >> did you see that background behind president obama? it kept saying, business roundtable. the business community agrees with him. my colleague at the "washington post," greg sergeant, reports, "the business roundtable, the biggest and most powerful business trade groups is preparing to come out to give the president essentially unilateral authority to raise the debt ceiling forever more, ending these crises forever." republicans will have to compromise with the president who will have already pocketed $1 trillion in tax increases. business will be screaming. the economy will be convulsing. they'll be getting blamed. that is supposed to put him in the weaker bargaining position? it's frankly hard for me to see how this strategy gets the gop any of what it wants in terms of policy or politics. this doomsday they are courting, it might be their own. joining us now, chrystia freeland, editor for thompson reuter's digital and author of "the plutocrats: how the rich is getting ahead and the economy is failing everyone else." i think i messed up your subtitle. >> it's okay. you h
. >> did you see that background behind president obama? it kept saying, business roundtable. the business community agrees with him. my colleague at the "washington post," greg sergeant, reports, "the business roundtable, the biggest and most powerful business trade groups is preparing to come out to give the president essentially unilateral authority to raise the debt ceiling forever more, ending these crises forever." republicans will have to compromise with the...
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Dec 6, 2012
12/12
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the obama administration has said it wants to prevent iran from getting a nuclear weapon. but what does that mean? does that mean we have evidence that there bolting the last polls together for a deliverable nuclear weapon -- bolts together for a deliverable nuclear weapon? does that mean they have too much 20% material and could break out more quickly? there is a real need of for try to define that. in our report, we tried to do that, not in a red line way, but in a way that the u.s. has to be prepared to be able to make an assessment based on a set of criteria that if iran meets that set of criteria or there is a judgment, the u.s. would respond militarily. i think right now, at least what i hear, it is not well defined in. you have israel taking a very different point of view, where they have said that they may strike militarily when iran reaches a certain level of nuclear weapons capability. that would be short of making the bomb there is a need to reconcile the u.s. and israeli points of view -- >>,. -- bomb. >> there is a need to reconcile the u.s. and israeli points
the obama administration has said it wants to prevent iran from getting a nuclear weapon. but what does that mean? does that mean we have evidence that there bolting the last polls together for a deliverable nuclear weapon -- bolts together for a deliverable nuclear weapon? does that mean they have too much 20% material and could break out more quickly? there is a real need of for try to define that. in our report, we tried to do that, not in a red line way, but in a way that the u.s. has to be...
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Dec 4, 2012
12/12
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that is where i believe president obama is exactly correct. now, i would also say that the upper-income people, their businesses will be better if the sacrifice is first at the upper level and not by taking away social security or medicare benefits that reduced demand in this society for other goods and services. there is an economic argument that i think is beginning to see more of, which is essentially what the caller did. a healthy middle class with consumer demand from a healthy middle-class is what is needed for a healthier economy and therefore it benefits all. host: writing in "the san francisco chronicle." guest: i would agree. i would agree only in small parts. first, the people on the amt that are left there never got the rate cuts in the first place. to say that they are at an advantage because they will not bear the price of the rate cut going away ignores the fact that they never got a rate cut in the first place because they were paying the higher of the two rates. the margins here are small. even when i paid the amt, my reality
that is where i believe president obama is exactly correct. now, i would also say that the upper-income people, their businesses will be better if the sacrifice is first at the upper level and not by taking away social security or medicare benefits that reduced demand in this society for other goods and services. there is an economic argument that i think is beginning to see more of, which is essentially what the caller did. a healthy middle class with consumer demand from a healthy...
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Dec 4, 2012
12/12
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those conversations will encompass not just leaders of congress but business leaders and civic leaders and governors and others who have a stake in the process and outcome of these negotiations. but as secretary geithner aid over the weekend, i think president obama conveyed in his interview earlier today with bloomberg tv, he remains confident we can get this done. he remains optimistic that once republicans accept that there is no deal without an acknowledgment and acceptance that rates have to go up on he remains optimistic that once high end earners, we can find compromise here. that any to preview for resolve and takes a very important step toward thed
those conversations will encompass not just leaders of congress but business leaders and civic leaders and governors and others who have a stake in the process and outcome of these negotiations. but as secretary geithner aid over the weekend, i think president obama conveyed in his interview earlier today with bloomberg tv, he remains confident we can get this done. he remains optimistic that once republicans accept that there is no deal without an acknowledgment and acceptance that rates have...
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Nov 30, 2012
11/12
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president obama wants to fall off the cliff. that's why he wants to go do that to the middle class and blame the republicans. host: caller, we'll leave it there. caller: be on the republican lines say, let them talk. guest: so it may be that this filibuster idea may have more support. toocrats don't want eliminate the filibuster. they want to keep it in place but just want to change the burden and move it to where there's one bite at the apple on a particular bit. so these changes are not earth shaking. one is your perspective on it, whether you're in the majority or minority. but the way you do it becomes an important part of this. that's why the implications here are fairly clear which -- fairly clear. if we end up seeing this happen by call it the nuclear option or defined as the constitutional option that it's perfectly constitutional to change the rules by a majority. but that means on issues from the budget to immigration to many of the other priorities we have, a farm bill that's not yet gone through, we could see another
president obama wants to fall off the cliff. that's why he wants to go do that to the middle class and blame the republicans. host: caller, we'll leave it there. caller: be on the republican lines say, let them talk. guest: so it may be that this filibuster idea may have more support. toocrats don't want eliminate the filibuster. they want to keep it in place but just want to change the burden and move it to where there's one bite at the apple on a particular bit. so these changes are not earth...
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Dec 7, 2012
12/12
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businesses are making decisions right now about investment and hiring. they don't have confidence that we can get this thing done, they will start pulling back and we could have a lousy time in our haqqani for the next several months. >> the president made the remarks while visiting with the virginia family to talk about the budget crisis. >> for now, the stalled negotiations cannot seem to be affecting local holiday shopping and events in and around baltimore. >> harbour east is one of the air is a special -- with special events going on throughout the city. winter wonderland promotes local artists and shoppers can get free parking. it is about promoting business and luring in those customers. [cheers] >> it is that time of year, holiday events, drinks, good food, and shopping. >> i think things are getting better for us. customers are shopping more, it seems. >> the festivities going on in the city and people getting excited. they are coming dampier >> and merchants say they need those special events -- they are coming down. >> and merchants say they n
businesses are making decisions right now about investment and hiring. they don't have confidence that we can get this thing done, they will start pulling back and we could have a lousy time in our haqqani for the next several months. >> the president made the remarks while visiting with the virginia family to talk about the budget crisis. >> for now, the stalled negotiations cannot seem to be affecting local holiday shopping and events in and around baltimore. >> harbour east...
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Dec 5, 2012
12/12
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. >> president obama has tried to reform wall street. taken a lot of heat for it. they have accused him of being anti-business. a lot of positive figures out there in the economy. does a second term present a great opportunity for him to follow through on wall street reform? because there are some in the community that think he was a disappointment in that regard. >> first of all about the economy, my state right after the auto rescue, my state's unemployment rate was 10.6%. now it's down to 6.9%. that's because of a lot of things. partly trade enforcement that you've talked about. and partly the auto rescue. all those things together. i think the president knows that we need to continue to make sure the regulations are strong. part of that is done by his administration and part of it is by congress. we know he will work with senator merkley, senator schumer, people who have been involved on these issues. and i'm optimistic we move forward. >> thank you for joining us tonight. >>> coming up, senator mitch mcconnell rails against reform, but john mccain doesn't agre
. >> president obama has tried to reform wall street. taken a lot of heat for it. they have accused him of being anti-business. a lot of positive figures out there in the economy. does a second term present a great opportunity for him to follow through on wall street reform? because there are some in the community that think he was a disappointment in that regard. >> first of all about the economy, my state right after the auto rescue, my state's unemployment rate was 10.6%. now...
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and i mean the offer that the democrats are already and increasingly people are not afraid that obama is going to take their guns and they're not terrified of gay people any longer he apparently is not going to take their guns yeah yeah. hey you know i want to have an amtrak no probs national parks no problem any oakley on you're on your way. what do you know in one thousand nine hundred six the republican party was openly pro-labor and all that stuff i was like really was gay married to yeah. i like on it well you know it was very cold waters so you don't have to be straight to shoot straight there you know i mean that you know there would let you know allowing people to have their own private lives is actually an old republican ethic so what what made that transition of for the republican party from the party of fifty six that actually said we're going to have bragged about increasing so security increasing unemployment benefits increasing the minimum wage all those things to the republican party it's a day where you know they last year basically blackmailed obama with the debt ceil
and i mean the offer that the democrats are already and increasingly people are not afraid that obama is going to take their guns and they're not terrified of gay people any longer he apparently is not going to take their guns yeah yeah. hey you know i want to have an amtrak no probs national parks no problem any oakley on you're on your way. what do you know in one thousand nine hundred six the republican party was openly pro-labor and all that stuff i was like really was gay married to yeah....
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Nov 30, 2012
11/12
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president obama wants to fall off the cliff. that's why he wants to go do that to the middle class and blame the republicans. host: caller, we'll leave it there. caller: be on the republican lines say, let them talk. guest: so it may be that this filibuster idea may have more support. democrats don't want to eliminate the filibuster. they want to keep it in place but just want to change the burden and move it to where there's one bite at the apple on a particular bit. so these changes are not earth shaking. one is your perspective on it, whether you're in the majority or minority. but the way you do it becomes an important part of this. that's why the implications here are fairly clear which -- fairly clear. if we end up seeing this happen by call it the nuclear option or defined as the constitutional option that it's perfectly constitutional to change the rules by a majority. but that means on issues from the budget to immigration to many of the other priorities we have, a farm bill that's not yet gone through, we could see ano
president obama wants to fall off the cliff. that's why he wants to go do that to the middle class and blame the republicans. host: caller, we'll leave it there. caller: be on the republican lines say, let them talk. guest: so it may be that this filibuster idea may have more support. democrats don't want to eliminate the filibuster. they want to keep it in place but just want to change the burden and move it to where there's one bite at the apple on a particular bit. so these changes are not...
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Dec 1, 2012
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i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> priority number one right now for president obama is reaching a deal on the fiscal cliff. just 31 days left until we hit those automatic spending cuts and tax increases, if negotiations break down. here is what president obama had to say in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from beginning up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans onboard, i'll sign this bill as soon as congress sends it may way. but it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes that hostage met foaphor one step further. >> unfortunately, some on the other side of the aisle are proposing a disastrous thelma and louise strategy, puttin
i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> priority number one right now for president obama is reaching a deal on the fiscal cliff. just 31 days left until we hit those automatic spending cuts and tax increases, if negotiations break down. here is what president obama had to say in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income...
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Nov 29, 2012
11/12
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the obama's blurry account after the fact. there are plenty of unanswered questions about what went wrong. for now, most of the attention is focused on the messaging afterward. another scorching day today for one of the chief messengers, u.n. ambassador susan rice, who president obama might try to make secretary of state. a day after a rocky session with senators john mccain, lindsey graham, kelly ayotte, she met with susan collins of maine. >> i continue to be troubled by the fact that the u.n. ambassador decided to play what was essentially a political role at the height of a contentious presidential election campaign by agreeing to go on the sunday shows to present the administration's position. >> this is what she's talking about. one of several appearances ambassador rice made five days after the consulate killings. >> our current assessment is that what happened in benghazi was, in fact, initially a spontaneous reaction to what had just transpired hours before in cairo. what we think transpired in benghazi, opportunistic
the obama's blurry account after the fact. there are plenty of unanswered questions about what went wrong. for now, most of the attention is focused on the messaging afterward. another scorching day today for one of the chief messengers, u.n. ambassador susan rice, who president obama might try to make secretary of state. a day after a rocky session with senators john mccain, lindsey graham, kelly ayotte, she met with susan collins of maine. >> i continue to be troubled by the fact that...
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Nov 30, 2012
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president obama, you are giving the middle class the raw finger. >>neil: wait until you hear what happens next. and you wills an extraordinary interview with an extraordinarily angry guy tonight at 8:00 p.m., on fox business network as scott tells us the whole story, a story you do fought want to miss. >> nearly 30 days away are house republicans getting ready to walk away from a budget battle mess? one of their leaders is next. [ malannouncer ] it'that time of year again. time for cii price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. >>neil: did republicans get:. scrooged. >> every family will see their taxes go up january 1. i assume that does not sound too good like th
president obama, you are giving the middle class the raw finger. >>neil: wait until you hear what happens next. and you wills an extraordinary interview with an extraordinarily angry guy tonight at 8:00 p.m., on fox business network as scott tells us the whole story, a story you do fought want to miss. >> nearly 30 days away are house republicans getting ready to walk away from a budget battle mess? one of their leaders is next. [ malannouncer ] it'that time of year again. time for...
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Nov 30, 2012
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owner who will see his taxes spike if the obama plan passes. >> this notion of $250,000 being top 2% or the wealthy people in america ignores the way most small businesses work in america. our company has figured out how to survive in this economy and how to be successful in this economy. the first thing we'll want to do with any income that i have is tax it? that's uncertainty. >> kristen welker is at the white house. critics said the president wasn't pushing a bald deal focusing more on taxes than spending. now the white house is out with its formal debt proposal which mitch mcconnell says he laughed at when tim geithner showed to him. what's so funny? >> reporter: to put the plan into context, first of all, this is the president's opening bid. and essentially comes after he's feeling emboldened by his re-election knowing there's not a whole lot in here that republicans will like off the bat. so just to take a look he it specifics, $1.6 trillion in new taxes, $400 billion in entitlement cuts. $50 billion in new stimulus. and then a proposal to end congress' control of the debt limi
owner who will see his taxes spike if the obama plan passes. >> this notion of $250,000 being top 2% or the wealthy people in america ignores the way most small businesses work in america. our company has figured out how to survive in this economy and how to be successful in this economy. the first thing we'll want to do with any income that i have is tax it? that's uncertainty. >> kristen welker is at the white house. critics said the president wasn't pushing a bald deal focusing...
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Dec 7, 2012
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it is valuable to businesses. it has been around over the last decade. you'll get to deduct 50% of what you purchase any given year or it is pushed up to 100%. i'm not sure if obama is planning to extend that into next year. i think it might be 50%. caller: good morning. first-time caller. i would like to say, from the previous caller, the purse strings are embedded so tight with big business basically in the business of raising funds and creating wealth for themselves and their cronies. we have no representation. when you have got large money available, there is a lot of opportunity for corruption or for people to benefit. and our tax codes are a prime example of that. the tax system could be simplified. it could be much more equitable, much fairer. that is a problem with the taxes. it is totally part of the corrupt system we deal with in our government. guest: this is a good time to talk about this wide perception that the tax code is unfair and riddled with loopholes and working for other people, but not for me, not for us. this is an interesting time
it is valuable to businesses. it has been around over the last decade. you'll get to deduct 50% of what you purchase any given year or it is pushed up to 100%. i'm not sure if obama is planning to extend that into next year. i think it might be 50%. caller: good morning. first-time caller. i would like to say, from the previous caller, the purse strings are embedded so tight with big business basically in the business of raising funds and creating wealth for themselves and their cronies. we...
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Nov 30, 2012
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american small businesses will get a tax cut. so why not come to a negotiated deal on the things that we agree on and put aside the other things. we don't thesely have to agree on those 2%. let's work on where there is some sort of compromisable solution or common ground. >> michael sm, what do you thins going on behind these meetings, what do you think these conversations are like? >> i don't know. i'm frustrated by the approach. i don't like the way this is all being litigated publicly and maybe it there's not an alternative. it seems that this deal gets done when the president is behind closed doors with john boehner. i think that's what it will take. it speaks to me, craig, of how there's no socialization left in washington. members of congress are there tuesday through thursday. they get out of dodge. their kids aren't in school there. not enough sharing of cocktails among one another. and frankly, i think they need to spend more time together and stop litigating this thing openly. >> bipartisan bourbon perhaps. >> yes. >> y
american small businesses will get a tax cut. so why not come to a negotiated deal on the things that we agree on and put aside the other things. we don't thesely have to agree on those 2%. let's work on where there is some sort of compromisable solution or common ground. >> michael sm, what do you thins going on behind these meetings, what do you think these conversations are like? >> i don't know. i'm frustrated by the approach. i don't like the way this is all being litigated...
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Nov 29, 2012
11/12
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. >> if they give it up now in return for nothing, obama wins and he wins big. >> read my lips, no new taxes. and when he violated that pledge -- >> off with his head! ♪ >>> we begin with a very busy day in washington and an array of meetings that would put your average speed dating event to shame. as we know, politics sometimes makes strange bedfellows. in this case one unusual lunch day. this afternoon the president hosted his vanquished rival, mitt romney. no word yet on if mr. romney found the cookies up to his rig rouse standards or how many white house beers the president decided to drink. we're also holding out hope that a savvy waiter or waitress caught at least 47% of the lunch on cell phone video. while in washington romney also met with his former running mate, the marathoner paul ryan, and offered a few kind words about him to the press. >> mr. romney, how was your meeting with mr. ryan today? was it nice to see him? >> that's a greet friend. good to be with him. >> good to be with him? >> always great to see paul ryan. >> while today's lunch was perhaps an opportunity to
. >> if they give it up now in return for nothing, obama wins and he wins big. >> read my lips, no new taxes. and when he violated that pledge -- >> off with his head! ♪ >>> we begin with a very busy day in washington and an array of meetings that would put your average speed dating event to shame. as we know, politics sometimes makes strange bedfellows. in this case one unusual lunch day. this afternoon the president hosted his vanquished rival, mitt romney. no...
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Dec 4, 2012
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they would pay higher rates that president obama is proposing. it would be a direct hit on job creation. and over and talk about raising tax rates at the top, it is not because we are worried about whether the rich can buy an extra vote. we are worried about their ability to invest in the economy. host: let's hear from mary in topeka, kansas. caller: i had a couple of comments. and then maybe let them answer. one, a republican, but i guess i'm not a very loyal one because at this point, between the republicans and the democrats, i am totally fed up with what comes across on the national news. both sides seem to be spinning the truth into lies for their own political gain. we need a solution that is not 25 years away. but i do not know how it is going to be done when the president -- and as far as i can see, he has not even sat down for a talk that lasts more than an hour or so. he has other people doing is talking and expects the republicans to try to make a deal. you cannot make a deal with a third party and then have a first party reject everyt
they would pay higher rates that president obama is proposing. it would be a direct hit on job creation. and over and talk about raising tax rates at the top, it is not because we are worried about whether the rich can buy an extra vote. we are worried about their ability to invest in the economy. host: let's hear from mary in topeka, kansas. caller: i had a couple of comments. and then maybe let them answer. one, a republican, but i guess i'm not a very loyal one because at this point, between...
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Dec 5, 2012
12/12
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CURRENT
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president obama is meeting with business leaders again today to talk about the consequences of going over the fiscal cliff. he's also claiming to call on congressional leaders to make sure we raise the debt ceiling without contention. the white house making the case that extending the bush tax cuts for the middle class is directly connected to the health of our businesses. companies need to know consumers will be able to spend and in his first post-election interview president obama again rejected the house republican counteroffer that is on the table. >> unfortunately the speaker's proposal right now is still out of balance. we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> let's hope he sticks to it. >> g.o.p. leaders aren't only dealing with the president and congressional democrats they're dealing with a split within their own ranks. more conservative republicans don't want party leaders to compromise anymore than they think they already have. even though the republican plan offers up $800 billion in new taxes wit
president obama is meeting with business leaders again today to talk about the consequences of going over the fiscal cliff. he's also claiming to call on congressional leaders to make sure we raise the debt ceiling without contention. the white house making the case that extending the bush tax cuts for the middle class is directly connected to the health of our businesses. companies need to know consumers will be able to spend and in his first post-election interview president obama again...
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president obama talked to business leaders today. >> the only thing that the debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may re newsto raise the country's debt ceiling to get their way on spending cuts and risk defaulting on the country's loans. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is not a game that i will play. >> reporter: republicans are pushing back. >> he's the president, not the emperorer. >> reporter: fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes, not by raising rates on the rich as the president has insisted. >> we're not insisting rates just out of spite, but rather because we need to raise a certain amount of revenue. >> we can't just keep borrowing money, raising taxes, and expecting the problem to go away. >> reporter: house members headed home for a long weekend with democrats so far unsuccessful in their efforts to force a vote on a bill that would extend tax cuts to 98%
president obama talked to business leaders today. >> the only thing that the debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may re newsto raise the country's debt ceiling to get their way on spending cuts and risk defaulting on the country's loans. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is not a game that i will play. >> reporter: republicans are pushing back....
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Nov 30, 2012
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this debt doesn't exist because we don't tax small businesses enough. it exists because washington continues to spend too much. raising taxes on small businesses instead of taking a balanced approach that also cuts spending, is wrong. it's only going to make it harder for our economy to grow. and if our economy doesn't grow, americans don't get new jobs. and the debt problem that we have will continue to threaten our children's future. as i said the day after the election, republicans are not seeking to impose our will on the president. we're seeking a bipartisan solution that can pass both chambers of congress and be signed into law by the president in the coming days. now during a campaign, the president pledged to the american people he would seek a balanced approach to addressing the debt, the combination of new revenues and spending cuts. so the day after the election, i said to the republican majority would accept new revenues as part of a balanced approach that includes real spending cuts and reforms. now, the white house took three weeks to resp
this debt doesn't exist because we don't tax small businesses enough. it exists because washington continues to spend too much. raising taxes on small businesses instead of taking a balanced approach that also cuts spending, is wrong. it's only going to make it harder for our economy to grow. and if our economy doesn't grow, americans don't get new jobs. and the debt problem that we have will continue to threaten our children's future. as i said the day after the election, republicans are not...
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Dec 4, 2012
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outcome of the negotiations, but as secretary geithner said over the weekend, as, i think, president obama conveyed in the interview today with bloomberg tv, he remains confident we can get this done. he remains optimistic that once republicans accept that there is no deal without an acknowledgement and acceptance that rates have to go up on higher end earners that, well, we can find a compromise here that resolves the fiscal cliff and takes a very important step towards the kind of broad balanced deficit reduction package that do enormous good to the economy. the kind of package i should not leave out with targeting investments so the economy continues to grow and create jobs. as i said on occasions, deficit reduction in and of itself is not a goal, but part of the plan that is focused on economic growth and job creation. president's very focused on that. jay? >> just a second ago, you referred to how the debt ceiling, taking it off the table, needs to be part of the deal. you referred to the economy, you called held hostage by the ideological team. you were aware of this, senator obama w
outcome of the negotiations, but as secretary geithner said over the weekend, as, i think, president obama conveyed in the interview today with bloomberg tv, he remains confident we can get this done. he remains optimistic that once republicans accept that there is no deal without an acknowledgement and acceptance that rates have to go up on higher end earners that, well, we can find a compromise here that resolves the fiscal cliff and takes a very important step towards the kind of broad...
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that is rightfully president obama is exactly correct. now i would also say this upper income people, their business will be better if that sacrifices first at the upper level and not by taking away social security and medicare benefits that reduce demand in a society for other goods and services. there is an economic argument that i think is beginning to see more, which is essentially what the caller did, that a healthy middle class with consumer demand from a healthy middle-class is what is needed for a healthy economy and therefore benefits all. >> host: kathleen pender writes in the chronicle that there is a silver lining when it comes to the amt. what is less known is the amt has a silver lining. assuming congress passes a patch, people in amt and stay in amt will be protected from an increase in regular income tax rates that the bush era tax cuts expire. that's because they will be paying a top amt rate of 20% come at you at the top regular rate is at 30.6%. this will be true for everyone in amt. people who fall out of the amt could
that is rightfully president obama is exactly correct. now i would also say this upper income people, their business will be better if that sacrifices first at the upper level and not by taking away social security and medicare benefits that reduce demand in a society for other goods and services. there is an economic argument that i think is beginning to see more, which is essentially what the caller did, that a healthy middle class with consumer demand from a healthy middle-class is what is...
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republicans stand ready to work with president obama for a balanced and bipartisan solution. so far, no evidence of that. let's create a long-term solution that does not burden individuals and gives businesses optimism to go forward and invest in the american economy. then the economy can grow for all citizens. i look forward to the testimony of our witnesses. >> thank you. i will introduce our two witnesses. dr. zandi is the chief economist at moody's analytics. he looks at macro racquets and public policy. he is the influential source of policymakers and businesses and journalists. recently he published a report assessing the challenges of approaching the fiscal cliff and the most effective way to achieve long-term, fiscal stability. he received his phd from the university of pennsylvania. that will be a recurring theme in these introductions. dr. zandi, thank you for being here. dr. hassett is the director and senior fellow at the american enterprise institute. he holds a phd from the university of pennsylvania. his research includes the u.s. economy, tax policy, and the s
republicans stand ready to work with president obama for a balanced and bipartisan solution. so far, no evidence of that. let's create a long-term solution that does not burden individuals and gives businesses optimism to go forward and invest in the american economy. then the economy can grow for all citizens. i look forward to the testimony of our witnesses. >> thank you. i will introduce our two witnesses. dr. zandi is the chief economist at moody's analytics. he looks at macro...
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president obama called it a dangerous lesson when he talked to business leaders today. >> the only thing that debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may refuse to raise the debt ceiling and risk defaulting on the country's loan. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is not a game that i will play. >> reporter: republicans are pushing back. >> he's the president, not the emperor. he does not have the power. >> reporter: fiscal cliff negotiations have been at a standstill since monday. not by raising rates on the rich as the president had insisted. >> we're not insisting on rates just out of spite, but rather because we need to raise a certain amount of revenue. >> we can't just keep borrowing money, raising taxes and expecting the problem to go away. >> reporter: house members headed home for a long weekend with democrats so far unsuccessful in their efforts to force a vote on a bill that would extend tax cuts to 98% of americans. but house speaker john boehner said he's
president obama called it a dangerous lesson when he talked to business leaders today. >> the only thing that debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may refuse to raise the debt ceiling and risk defaulting on the country's loan. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is not a game that i will play. >> reporter: republicans are pushing back. >> he's...
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all over america who have worked hard to build these businesses, their businesses, from the ground up is how our economy became the envy of the world. it is the american way, and i wish this president would learn how to be an american. >> people have birth certificates. he doesn't have a birth certificate. now, he may have one, but there's something on that, may be religion, maybe it says he's a muslim, i don't know. maybe he doesn't want that. or he may not have one. but i will tell you this, if he wasn't born in this country, it's one of the great scams -- >> these aren't exactly cheerleaders for black participation in the republican party. donald trump -- mitt romney genuflected to that guy in the campaign. let the congressman talk. let j.c. talk. i don't know how you react to that. i want to know. >> chris, on the birther thing, i think that's a losing issue. >> why do the republicans push it? >> i can't speak for republicans. you don't hear me talking -- >> i think you want to chair the party. >> that's the reason. >> you're going to have to speak for these clowns. >> for that re
all over america who have worked hard to build these businesses, their businesses, from the ground up is how our economy became the envy of the world. it is the american way, and i wish this president would learn how to be an american. >> people have birth certificates. he doesn't have a birth certificate. now, he may have one, but there's something on that, may be religion, maybe it says he's a muslim, i don't know. maybe he doesn't want that. or he may not have one. but i will tell you...
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. >> governor, connecticut senator joe lieberman says that president obama needs to get more involved in these talks. needs to get down in the trench, gets his hands a little dirty. is that the right strategy for the president? >> well i agree with senator lieberman. i've said that from the beginning. any time i was involved in a negotiation with the legislature over a bill, i got involved. that doesn't necessarily mean that i met with them personally. although often i would but it also meant that i was directing the flow and that my position was out there clearly. >> so why do you think for example that president obama hasn't done that yet? >> well because it worked for them in the first term. it was a key part of getting them re-elected. they never had to stake out difficult positions. but now it's the second term. he doesn't have to get re-elected. he's got to worry about what's good for the country. so i think he should lead, he should get out there and say look, guys, here's what i've seen what senator mcconnell wanted. here's what i'm willing to accept. let's get going. >> and i
. >> governor, connecticut senator joe lieberman says that president obama needs to get more involved in these talks. needs to get down in the trench, gets his hands a little dirty. is that the right strategy for the president? >> well i agree with senator lieberman. i've said that from the beginning. any time i was involved in a negotiation with the legislature over a bill, i got involved. that doesn't necessarily mean that i met with them personally. although often i would but it...
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the president plans to deliver remarks and answer questions during a meeting of a business roundtable. critics say the president will call on business leaders to press lawmakers about raising the debt ceiling. while that is happening we expect to hear from house speaker john boehner any moment right now on the hill for the latest on what's happening on fiscal matters. martha? martha: meanwhile, there are new evacuations that have been ordered in a community where a train carrying toxic chemicals derailed nearly a week ago. 100 families told they have to leave their homes in new jersey near philadelphia. they have to play it safe until the last of the hazard does gas is removed. >> what we'll do we'll pump liquid in that dissolves the vinyl chloride. we'll pump that liquid back out into the highway truck. we have a derailment of hazardous of materials over and in a waterway and a community adjacent to it, right next to it. martha: the rail line is paying for hotel rooms and other expenses for 200 people not able to go home. the families as you can imagine, especially this time of year
the president plans to deliver remarks and answer questions during a meeting of a business roundtable. critics say the president will call on business leaders to press lawmakers about raising the debt ceiling. while that is happening we expect to hear from house speaker john boehner any moment right now on the hill for the latest on what's happening on fiscal matters. martha? martha: meanwhile, there are new evacuations that have been ordered in a community where a train carrying toxic...
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Nov 30, 2012
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it's a third generation family business and employs 150 people at that particular facility. the president's visit would highlight the impact that the taxes would affect the season. it's all to garner public support and back republicans into a corner as fiscal cliff negotiations continue. tim geithner went up to the hill yesterday and laid out the president's offer. this is what it looks like. the goal is to get to $1.6 trillion in revenue. letting the tax cuts expire for the top 2% and then raise capital gains. that would bring in $196 billion. and then the tax code over overhaul, and extension of unemployment benefits and more stimulus spending. republicans for their part dismiss the offer immediately calling it unbalanced, and unreasonable. so the question is what kind of leverage do republicans have at this point? talking points memo notes that they do have control over whether or not we raise the debt ceiling which is something we have to do in the next few weeks or so. while it does not factor into the mass that is considered right now it does give house speaker john bo
it's a third generation family business and employs 150 people at that particular facility. the president's visit would highlight the impact that the taxes would affect the season. it's all to garner public support and back republicans into a corner as fiscal cliff negotiations continue. tim geithner went up to the hill yesterday and laid out the president's offer. this is what it looks like. the goal is to get to $1.6 trillion in revenue. letting the tax cuts expire for the top 2% and then...
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that's why we see so many business people, including small business people, standing at president obama's side saying it's good for business to give the middle class their tax breaks. what are these republicans thinking over there? if i told you, if we're having an argument, that i'll give you 98% of what you want and you walk away from me, i say you're unreasonable. who gets 98% of what they want? no one in an argument. usually meet each other halfway, 50-50. we are giving the republicans 98% of what they want on the tax cuts, but they are holding the 98% hostage for their friends, the coch brothers, sheldon adderson, the billionaires. you know, that's wrong, and we had an election about it. this is a country of, by and for the people, not of, by and for the billionaires. and i am going to say to my republican friends -- and they are my friends. i have served with them for a long time. i have worked with them. what are you thinking? what are you doing? let me tell you one of the things they offered in their package. this is outrageous. they want to raise the age of medicare by two years.
that's why we see so many business people, including small business people, standing at president obama's side saying it's good for business to give the middle class their tax breaks. what are these republicans thinking over there? if i told you, if we're having an argument, that i'll give you 98% of what you want and you walk away from me, i say you're unreasonable. who gets 98% of what they want? no one in an argument. usually meet each other halfway, 50-50. we are giving the republicans 98%...
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here's what president obama said when he spoke to business ceos about this earlier today. >> i want to send a very clear message to people here, we are not going to play that game next year. if congress in any way suggests that they're going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation, which, by the way, we have never done in our history, until we did it last year, i will not play that game. because we have got to break that habit before it starts. >> reporter: so just to be very clear, the white house sees this as three steps. a fiscal deal would include, one, some measure that would raise revenue. tax raising. two, a sequester, that's all those budget cuts that are going to kick in, some way to save money through spending cuts, probably on medicare changes. and then, three, some solution for the debt ceiling, both in the short-term and then some permanent solution to avoid that kind of nightmare repeating itself over and over, brooke. >> so we just played a bunch of the sound bites here today from the pres
here's what president obama said when he spoke to business ceos about this earlier today. >> i want to send a very clear message to people here, we are not going to play that game next year. if congress in any way suggests that they're going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation, which, by the way, we have never done in our history, until we did it last year, i will not play that game. because we have got...
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jitters for small business owners. president obama is calling for $1.6 trillion in tax spikes. john boehner is telling him to get serious. >> with 32 days left, the two parties are trading insults with 90% of americans facing higher taxes next year. small business owners want answers. poppy harlow is talking to them. they are very nervous about this. >> very nervous and frustrated. they have no idea what is ahead. that uncertainty is the hard part. we went to new jersey to talk to owners of very different businesses that are equally frustrated that washington can't get it together. >> any company, any business did the method of accounting like the government, we would be in jail. >> you sound like you have had it. >> i have. here is the reservations. staffed 24 hours a day. >> reporter: he started the business back in 1984. today, he's got a staff of 75. 53 cars and one big question. >> i just want congress to tell me to come up with what the boundaries are so i know -- i know how to run my business, i know how to plan. >> reporter: he's laid off four employees in the last six
jitters for small business owners. president obama is calling for $1.6 trillion in tax spikes. john boehner is telling him to get serious. >> with 32 days left, the two parties are trading insults with 90% of americans facing higher taxes next year. small business owners want answers. poppy harlow is talking to them. they are very nervous about this. >> very nervous and frustrated. they have no idea what is ahead. that uncertainty is the hard part. we went to new jersey to talk to...
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, what obama care can do for small business, but you said we shouldn't worry about that so much, that we should get some sort of compromise in order to keep moving and keep talking and keep moving forward? >> well, i think that it was pretty clear during the course of the election and since and even in the president's speech today where he said he's willing to give on some revenue and some spending cuts, he's proposed some, he's already passed some into law. and beyond that, just from my perspective, what i see is that we know that we're a confidence-based economy, we're 70% of the economy driven by consumer spending and anything that puts a crimp in consumer spending is not good for the economy. so to put a tax rise, a tax rate increase for the middle class makes no sense to me. someone who makes 50, 60, $70,000 a year will lose and will take away a lot of discretionary purchases from people like me and travel and a whole host of other areas. i hope our leaders in washington are listening and they take the steps necessary to get to a compromise before the end of the year. >> very qui
, what obama care can do for small business, but you said we shouldn't worry about that so much, that we should get some sort of compromise in order to keep moving and keep talking and keep moving forward? >> well, i think that it was pretty clear during the course of the election and since and even in the president's speech today where he said he's willing to give on some revenue and some spending cuts, he's proposed some, he's already passed some into law. and beyond that, just from my...
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this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. >> it's a pretty flat market, despite the news of president obama's i'm going to call it slap in the face to the republicans on the fiscal cliff. check the price of oil. 88 a barrel, up a little. lisp to this, we've got a huge drop in the birth rate in the united states. the recession may be to blame. 64 births per 1,000 women of chile baring age, 15-44 in 2010. that's about half of what it was in the peak of the baby boom 1957. the birth rate is way down. liz macdonald and gerri willis are here on this subject. do you have any idea what's going on here? >> well, two sides could help explain that. first of all, mexico, for example, is doing better than it has been, fewer immigrants coming from mexico. there's a draw there right now going on in that country and here is the other thing, in this recession, two things that typically don't get hit as typically they got hit this time around. housing construction where immigrants work and farms where immigrants come in, so, th
this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. >> it's a pretty flat market, despite the news of president obama's i'm going to call it slap in the face to the republicans on the fiscal cliff. check the price of oil. 88 a barrel, up a little. lisp to this, we've got a huge drop in the birth rate in the united states. the recession may be to blame. 64 births per 1,000 women of chile baring age, 15-44 in 2010. that's about half of what...